Reits should be careful with trust schemes of arrangement
Given added scrutiny of such schemes, Reits should consider if it is most appropriate method to achieve their objectives
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REAL estate investment trusts (Reits) in Singapore may have to be more careful when they undertake a trust scheme of arrangement in future as such schemes will likely draw more scrutiny, say corporate lawyers.
This follows the recent privatisation of Soilbuild Business Space Reit (Soilbuild Reit) in March, where the Singapore High Court had raised concerns over the use of the one-proxy rule and the legal basis for a Reit trust scheme to be carried out.
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